“My neighbors just listed their home and I know they got several offers the first week. Do you think that means they should have asked a higher price?”
Yes, homes that are priced too low usually attract multiple offers.
However, even in today’s “normal” market, you can also get multiple offers if your home is priced correctly.
That’s because there are many potential buyers who’ve already seen the “existing inventory” of homes for sale and are now mainly looking at homes newly hitting the market.
So a home that’s priced right from the start will attract a lot of interest and possibly multiple offers.